NANTONG, CHINA – June 23, 2026 – PetroVietnam Technical Services Corporation (PTSC), alongside its partners and contractors, successfully celebrated the Naming and Sail-away Ceremony for the Floating Storage and Offloading unit, FSO PTSC Lac Da Vang (FSO PTSC LDV), at the Nantong Strongwind Shipyard in Nantong, China. The milestone event was attended by representatives from Murphy Oil, PTSC, Yinson, project partners, contractors, and international classification societies.

The signing of the Sail-Away Certificate PTSC AP – OSE – NTSW 

This event marks a major milestone in the development of the Lac Da Vang field (Block 15-1/05). It further demonstrates PTSC’s robust capabilities in developing, managing, and executing offshore floating production storage and offloading projects to stringent international standards. The FSO PTSC LDV is a newly built, double-hull vessel featuring a storage capacity of over 500,000 barrels of crude oil and a design processing capacity of 20,000 barrels per day. The facility is equipped with an advanced External Turret Mooring system and features cutting-edge dual-fuel systems engineered to optimize operational efficiency and substantially minimize carbon emissions during production. Designed, constructed, and classed under the rigorous supervision of the American Bureau of Shipping (ABS), the FSO meets all strict global safety, quality, and operational standards for offshore oil and gas facilities. With a design life of 20 years without the need for dry-docking, the vessel will serve as a cornerstone in ensuring stable, continuous, and efficient production operations for the Lac Da Vang Project.

Representatives from all parties taking a commemorative group photo

Project Management team taking a commemorative group photo

Remarkably, the newbuild phase was completed and declared ready for sail-away just over 18 months from the contract signing in November 2024, ahead of the original contractual schedule. This achievement stems from the seamless collaboration among the Operator, PTSC, joint-venture partner Yinson, various contractors, and the dedicated project engineering teams. It reflects PTSC’s world-class project management, supply chain coordination, and rigorous quality control in executing large-scale offshore energy projects. To date, the project has achieved over 2.6 million safe man-hours without any lost-time incidents, underscoring the effectiveness of the comprehensive HSE management system and safety culture maintained by PTSC and its partners throughout the project execution. With the addition of this vessel, PTSC expands its owned and operated floating production portfolio to 7 FSOs/FPSOs, cementing its position as Vietnam's leading enterprise in the development, investment, operation, and asset management of floating facilities for the offshore energy sector.

The signing of the Ready to Sail-away Certificate between MCB  and PTSC AP

Mr. Nguyen Tuan Hung, Vice President of PTSC, stated: "The Naming and Sail-away Ceremony of FSO PTSC LDV is an extraordinary milestone for PTSC, our partners, and the entire project team. It marks the successful completion of an offshore facility delivered safely, with top-tier quality, and ahead of schedule. This achievement re-establishes PTSC's capacity to develop, invest in, and manage complex FSO/FPSO projects on a global scale. It also showcases our readiness to stand alongside international oil operators in realizing large-scale offshore energy developments with highly sophisticated technical requirements. We are fully confident that FSO PTSC LDV will play a decisive role in achieving the First Oil milestone for the Lac Da Vang field, further anchoring PTSC's presence in the offshore energy value chain and contributing to the sustainable growth of Vietnam's oil, gas, and energy industries."

Mr. Ravi Meka, representing Murphy Oil, highly commended the relentless efforts of PTSC, Yinson, and all contractors involved: "We highly appreciate the collaborative drive that brought this project to fruition. We remain confident that the FSO PTSC LDV will be a vital asset in successfully unlocking the first oil stream from the Lac Da Vang field."

The highlight of the event was the traditional naming ritual and champagne bottle breaking ceremony, officially declaring FSO PTSC LDV ready to set sail for Vietnam waters for offshore installation, hook-up, and commissioning at the Lac Da Vang field. On the sidelines of the ceremony, PTSC and Oceanstar Marine & Offshore Investment Pte. Ltd. (OSMOI) signed a Framework Agreement to expand their strategic cooperation, leveraging each party's core strengths toward developing future offshore energy projects.

The successful Naming and Sail-away Ceremony of the FSO does not only represent a crucial step forward for the Lac Da Vang Project, but also reaffirms PTSC's pioneering role across the entire offshore energy value chain—ranging from technical services and project development to asset investment and the operations and maintenance (O&M) of offshore oil and gas facilities in Vietnam and the broader region.

Photos of FSO PTSC LDV: